TORONTO (Reuters) - Canadian Oil Sands Ltd COS.TO expects strong interest from other suitors following its rejection of a hostile takeover bid from Suncor Energy Inc (SU.TO), said Chief Executive Ryan Kubik on Monday.
“There’s interest from a broad range of buyers,” Kubik told Reuters. “Whether it be private equity, whether it be pension funds, or international oil companies. There aren’t too many places in the world where you can go get 1.6 billion barrels of reserves and clear visibility on it.”
Kubik declined to comment on whether the company has held discussions with any other parties yet, saying the focus has so far been on reviewing the Suncor offer that is currently on the table.
He added that the company would be willing to engage with any party willing to come forward with a full and fair offer.
“We’d be willing to engage with anybody, who is willing to come in and talk about an offer that reflects the full and fair value of those assets, up until this point in time that hasn’t been Suncor.”
Reporting by John Tilak and Euan Rocha; Editing by Steve Orlofsky